I may be jumping the gun here, but I am fairly confident I am noticing a short term trend forming for Bitcoin. I was doing some technical analysis on Bitcoin using MACD and Aroon for the past 6 month to get some sort of idea of where Bitcoin seems to be going. I decided to use the time cycles tool and I noticed something pretty significant.
Every 59 days since July, Bitcoin has seen a significant dip in price caused by a large amount of sells. Immediately after there are a large amount of buys. This happens like clockwork every 59 days, the most recent being mid November. Another notable trend here is although there is a dip, the price of Bitcoin doesn't dip below the price it opened at a month prior to the dip. So I am predicting two potential events in the very near future. Number 1: The price of Bitcoin will continue to rise through December. Number 2: Be prepared for a significant dip in price middle of January.
I will continue to do more research to determine what exactly the price will be in the coming months, as well as more detailed analysis as to how other crypto currencies performance correlates with the price of Bitcoin over time.
Every 59 days since July, Bitcoin has seen a significant dip in price caused by a large amount of sells. Immediately after there are a large amount of buys. This happens like clockwork every 59 days, the most recent being mid November. Another notable trend here is although there is a dip, the price of Bitcoin doesn't dip below the price it opened at a month prior to the dip. So I am predicting two potential events in the very near future. Number 1: The price of Bitcoin will continue to rise through December. Number 2: Be prepared for a significant dip in price middle of January.
I will continue to do more research to determine what exactly the price will be in the coming months, as well as more detailed analysis as to how other crypto currencies performance correlates with the price of Bitcoin over time.